Columbus 2020 no more; renamed economic group wants region to be the most prosperous in the U.S.

Mark Williams The Columbus Dispatch @BizMarkWilliams

Tuesday

Sep 3, 2019 at 6:00 AM

Central Ohio's economic development team has a new name, and with it a bold vision of turning central Ohio into the most prosperous region in the United States.

One Columbus has replaced Columbus 2020, the group that was created in 2010, when the country was emerging from the worst downturn since the Great Depression.

"We're not going to be the biggest region globally or even in the country. We're not going to probably be the richest region. That's not the goal," said Kenny McDonald, One Columbus' chief economic officer. "It can be a goal, though, I think it's an achievable thing, and it's a fantastic thing to strive for — could you literally be the most prosperous."

Back in 2010 when Columbus 2020 started, the region, like many other parts of the country, was hemorrhaging jobs, and homeowners were losing their homes to foreclosure.

Since then, the region has added nearly 200,000 jobs, and its job-growth rate has been the best among 10 large Midwestern cities. Also, the region has led the Midwest in population and economic growth over that period.

Since 2011, Columbus 2020, which includes 11 central Ohio counties, has been involved in projects that have created 47,838 jobs with an annual payroll of $2.1 billion and total investment of $8.6 billion.

Now the region is starting the next decade with the low unemployment rate of 3.9% in July and record-high home prices.

"The growth that we've had has lifted an awful lot of people ... but it certainly hasn't been perfectly sufficient to raise all neighborhoods and rural markets," McDonald said.

The new One Columbus name comes with the tagline: Partners for Regional Growth & Prosperity.

The organization's goal for the next 10 years is better numbers than those it has produced in this decade: to have a hand in creating 60,000 jobs with an annual payroll of $3.3 billion and investment of $10 billion.

Its objectives include serving existing businesses, attracting new ones, supporting entrepreneurship and high-growth companies, and marketing and promoting the region around the world.

"Success breeds confidence, and confidence fuels momentum. Both are necessary components to achieve the next phase of the Columbus region's growth," Pablo Vegas, chairman of the board of directors of One Columbus, said in a statement.

Although prosperity is a term that can mean different things to different people, it can't be achieved without economic growth, McDonald said.

"You can't achieve your growth potential unless you deal with some of the other issues that are eating at our true prosperity — education, transportation, housing," he said.

He pointed to Silicon Valley as an example of a region of the country that has created great growth and wealth, but with large income disparities.

"You shouldn't be wondering where you're going to sleep at night if you make six figures," he said.

The One Columbus name is meant to symbolize a region that has come together over the years in pursuit of of economic development, he said.

"We just think economic development is a big tent. It's a big place, a table where a lot of people can come together for a common purpose," he said.

As part of the effort, One Columbus has created a monitor that will show how the region stacks up with 34 other metro areas in the U.S. that have 1 million to 3 million residents. Central Ohio has about 2 million.

The report, to be updated monthly, will focus on the most current measurements, based on three categories: growth, prosperity and innovation.

McDonald and his staff have been talking to groups about the new strategy, and the response has been consistent.

"We're really proud of this region," he said people tell him. "We take great pride in it. We want it to grow, and yet we can do a lot better."

mawilliams@dispatch.com

@BizMarkWilliams

Never miss a story

Choose the plan that's right for you.
Digital access or digital and print delivery.